Designed to offer long-term financing to American Veterans, VA Mortgage loans are issued by federally qualified lenders, like USA Mortgage and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. VA Home loans have upfront funding fee, but this fee can be financed into the loan, and even with $0 down payment, there is no mortgage insurance expense added to the monthly payment. The VA loan also has the option to finance qualified energy efficient upgrades to the home you are purchasing or refinancing.
Advantages of VA Mortgage Loans
Who Can Benefit?
Clients are looking for 100% financing within city limits.
Clients with lower credit scores and higher debt-to-income ratios.
VA Home Loans
If interest rates ever drop to the benefit of the client, VA loans can be easily and quickly refinanced using the VA’s Interest Rate Reduction Refinance Loan program, or IRRRL for short. This refinance loan does not require an appraisal and is usually offered with little to no lender fees.
USA Mortgage Advantage
Most competitive rates offered to eligible veterans.
The entire department dedicated to Veteran lending to best serve those who served us.
Offers low or no originations fees as a lender and no junk fees added.
From start to finish everything happens in-house, processing, underwriting, and funding.